After overseas banking units, the commerce ministry is proposing a similar dispensation for the insurance sector, with fiscal sops and 100 per cent foreign investment permitted in companies that set up shop in special economic zones (SEZs).
Ministry officials told Business Standard that the proposal was being sent to the finance ministry and the Insurance Regulatory and Development Authority (IRDA).
According to the plan drawn up by the commerce ministry, insurance companies in SEZs will also be provided simpler dispensation on other fronts, including freedom in investments of premium.
